The General Theory Of Employment Interest And Money 1936 Keynes John Maynard

"The General Theory of Employment, Interest and Money is a seminal work of economic theory written by John Maynard Keynes and published in 1936. This book is widely regarded as one of the most influential economic treatises of the 20th century and is credited with revolutionizing the way economists think about macroeconomics. In this book, Keynes argues that the traditional classical economic theory, which emphasizes the role of market forces in determining economic outcomes, is inadequate for understanding the dynamics of modern capitalist economies. He proposes a new theory that emphasizes the importance of aggregate demand in determining levels of employment and output in the economy. Keynes argues that in times of economic downturn, when there is insufficient demand for goods and services, the government must intervene to stimulate demand and create jobs. He also proposes that the